This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

THL Credit Announces First Quarter 2013 Financial Results

BOSTON, May 6, 2013 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit" or the "Company"), a direct lender to middle market companies, today announced financial results for its fiscal first quarter ended March 31, 2013. Additionally, THL Credit announced that its Board of Directors has declared a second fiscal quarter 2013 dividend of $0.34 per share payable on June 28, 2013, to stockholders of record as of June 14, 2013. This represents an increase of $0.01 per share over the prior quarter's dividend.

HIGHLIGHTS

($ in millions, except per share amounts)  
Portfolio results As of March 31 , 2013  
Total assets $445.0  
Investment portfolio, at fair value $431.1  
Net assets $347.4  
Net asset value per share $13.20  
Weighted average yield on investments 13.7%  
  Quarter ended  March 31 , 2013 Quarter ended March 31, 2012
Portfolio activity  
Total investments made, at par $58.0 $36.7
Number of new portfolio companies 5 2
Number of portfolio companies at end of period 40 26
Operating results    
Total investment income $14.4 $10.7
Net investment income $7.4 $6.2
Net increase in net assets from operations $8.6 $5.7
Net investment income per share $0.28 $0.31
Dividends declared $0.33 $0.29

"This was another solid quarter for the firm and represents marked progress year-over-year," said James K. Hunt, chief executive officer of THL Credit. "We are pleased with the five new investments we made this quarter as well as the more limited amount of prepayment activity during the quarter compared to recent quarters. Apart from regularly scheduled amortization and planned sell down of our holdings in Gold, Inc., we continued with our strategy of prudent and patient growth in the portfolio, which when coupled with increased leverage, we believe will drive earnings growth going forward. Our pipeline, particularly unsponsored transactions, remains active and we have $150 million of borrowing capacity as of March 31, 2013 under our newly upsized and extended credit facility closed in March to fund near term investment opportunities."

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,031.14 +43.63 0.26%
S&P 500 1,984.13 -1.41 -0.07%
NASDAQ 4,518.9020 -48.6960 -1.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs